Laserfiche WebLink
Memo <br />To: Brenda Davitt, Finance Director <br />Grant Fernelius, Community Development Director <br />From: Jeanne Vogt, Ehlers <br />Cc: Mark Ruff, Ehlers <br />Date: October 22, 2014 <br />Subject: Proposal for Updated TIF Management Plan and New Brighton Exchange <br />Dashboard <br />The City of New Brighton has asked Ehlers to provide a cost estimate for updates to the City's <br />Tax Increment Financing (TIF) Management Plan and the New Brighton Exchange Dashboard. <br />We would not begin the update for either of these projects until we have preliminary audit <br />figures for 2014 and the County Assessor has released values for taxes payable in 2016. We <br />anticipate both of these items to be available in late February or early March of 2015. <br />TIF Management Plan <br />The most recent update to the City's TIF Management Plan ( "Plan ") was done in the fall of <br />2013, but included only the Summary section of the report. Updates to the individual TIF <br />districts were not completed at that time. As such, a comprehensive update would include: <br />➢ Summary of Outstanding Obligations <br />o Pooled and Non - Pooled <br />➢ Delinquent Taxes and Pending Petitions <br />➢ Recommendations for: <br />• Budget Modifications <br />• Cash Balances and Uses <br />• Pooled Debt Service <br />• Excess Increment on TIF Reports <br />➢ Update cash flow projections by TIF district <br />o Final revenues and expenditures for 2012, 2013, and 2014 for each TIF district. <br />➢ New Brighton Exchange — Pooling from other TIF districts <br />• Pre -1990 TIF districts <br />• Special Legislation districts <br />• Post -1990 TIF Districts <br />➢ Analysis of Administrative Costs and 10% limit <br />➢ Updated Pooling calculations <br />➢ 4 Year Rule compliance <br />➢ 5 Year Rule compliance <br />E H L E RS 3060 Centre Pointe Drive <br />Roseville, MN 55113 -1105 <br />LEADERS IN PUBLIC FINANCE Phone: 651 - 697 -8500 <br />Fax: 651 - 697 -8555 <br />